Rs 4.13 lakh crore order book: This civil construction company has secured new orders worth Rs 5,000 crore in the Middle East; stock hit 52-week high!
The stock is up by 55 per cent in 1 year and gave multibagger returns of over 180 per cent in the last 3 years.
The Power Transmission & Distribution Business of Larsen & Toubro Ltd has secured new orders in the Middle East worth approx. Rs 5,000 crore.
In the United Arab Emirates, the business has received an order to establish a 220kV gas-insulated substation and associated transmission lines from a well-established service provider to the energy industry. Further, orders to establish 2 New 132kV substations have been received from a public services infrastructure company in Dubai and another order to build a 220kV overhead transmission Line has been secured in the region.
In Kuwait, an order has been secured for the turnkey construction of 4 new 132kV Substations in the Al Sabah Medical District. The scope also includes associated control, protection, automation and communication systems and related civil and mechanical works. Additional orders have been received for the ongoing jobs in Qatar and Saudi Arabia.
Larsen & Toubro Ltd. is a multinational conglomerate that is primarily engaged in providing EPC solutions in key sectors. The company announced its Quarterly Results ended June 30, 2023 wherein the net sales increased by 33.55 per cent to Rs 47,882 crore and net profit increased by 39 per cent to Rs 3,096 crore in Q1FY24 over Q1FY23. As of June 30, 2023, the company order book stands at Rs 4.13 lakh crore.
Want more insightful stories along with recommendations?
Get a 3-month subscription to experience the power of our flagship DSIJ Magazine (online edition) for just Rs 800/- Click here to subscribe now
On Wednesday, the shares of Larsen and Toubro Ltd plunged 1.1 per cent to Rs 2,687.50 per share from its previous closing of Rs 2,717.45. The stock also made a new 52-week high of Rs 2,767 per share with a spurt in volume by more than 1.43 times on BSE. The company has been maintaining a healthy dividend payout of 37.20 per cent
The stock is up by 55 per cent in 1 year and gave multibagger returns of over 180 per cent in the last 3 years. Investors must keep this stock on their watch list.
Disclaimer: The article is for informational purposes only and not investment advice.